Streetbeat News

Acquisitions Mergers

LMNL

Liminal BioSciences Inc. (NASDAQ: LMNL) has received the final order from the Ontario Superior Court of Justice approving the plan of arrangement under which Structured Alpha LP will acquire all of the issued and outstanding common shares of Liminal BioSciences not currently owned by SALP or its affiliates and associates at a price of US$8.50 per Share.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:24 pm

BIP

TRTN

Brookfield Infrastructure Partners L.P. (BIP) and Triton International Limited (TRTN) have received all necessary regulatory approvals for their proposed acquisition. The transaction is expected to close on September 28, 2023. Triton shareholders have until September 26, 2023 to elect their preferred form of merger consideration. The options include a mix of cash and BIPC shares, all cash, or all BIPC shares.

Portfolio Pulse from Happy Mohamed

September 19, 2023 | 8:16 pm

AJG

CATC

EBC

Eastern Bankshares, Inc. has announced its plans to sell the insurance operations of Eastern Insurance Group, LLC to Arthur J. Gallagher for $510M. Additionally, the company has entered a definitive agreement to merge with Cambridge Bancorp in an all-stock transaction valued at $528M.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:16 pm

ELF

e.l.f. Beauty, Inc. (NYSE:ELF) shares are trading lower, continuing a trend over the past few weeks. This follows the company's announcement of an agreement to acquire Naturium for $355 million, which is expected to double its presence in skin care to approximately 18% of retail sales. Despite the recent pullback, e.l.f.'s shares are up 104.30% year-to-date.

Portfolio Pulse from Ryan Gustafson

September 19, 2023 | 7:45 pm

AMSWA

American Software, Inc. (NASDAQ:AMSWA) has announced the sale of its IT consulting firm, The Proven Method, to Marathon TS, Inc. The divestment is part of American Software's strategy to focus on its core supply chain planning business, allowing its operating entity, Logility, to expand its AI-first supply chain management platform.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:56 pm

BRDS

Bird Global has announced its acquisition of micromobility operator Skinny Labs for $19 million, leading to a rise in Bird Global's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:46 pm

BRDS

Bird Global, Inc. (NYSE:BRDS) has acquired shared electric bike and scooter operator Skinny Labs, Inc, (doing business as Spin) from Berlin-based TIER Mobility for $19 million. The acquisition makes Bird the largest micromobility operator in North America by market share. Spin delivered approximately $45 million in net revenue for the 12 months ended June 30, 2023, bringing the combined net revenue for Bird and Spin to approximately $265 million for that period. The transaction is expected to have upwards of $20 million in synergies and be immediately accretive to earnings for Bird.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:44 pm

BRDS

Bird Global Inc's unit has acquired Skinny Labs for $19 million, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:22 pm

UHAL

U-Haul has acquired the Simply Stor-it facility in Mitchell, South Dakota, marking its first U-Haul-operated facility in the city. The facility is the only climate-controlled self-storage in Mitchell. The acquisition is part of U-Haul's efforts to meet the moving and self-storage demands of its customers in the area. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:13 pm

LGND

Ligand Pharmaceuticals has entered into a merger agreement with Primrose Bio, making its subsidiary, Pelican Technology Holdings, a wholly owned subsidiary of Primrose Bio. Ligand retains commercial royalties related to Pelican Expression Technology and will own 49.9% of Primrose Bio. Ligand has also updated its annual guidance, increasing adjusted EPS guidance and modifying revenue guidance.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 5:16 pm